NPEs up by €10 million at the end of November 2018

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Non – Performing Exposures (NPEs)recorded an increase of €10 million at the end of November 2018 compared to the end of October 2018.According to figures announced on Wednesday by the Central Bank of Cyprus, the ratio of NPEs on total loans remained at 31.8%, unchanged from September 2018.

The percentage of loans overdue for less than 90 days reached 23.8% compared to 23.7% in October 2018.

The percentage of total accumulated provisions for NPEs was 51.7% compared to 51.8% in October 2018.Total loans restructured amounted to 20.3% compared to 20.7% in October 2018.

However, despite the fact that the ratio remained unchanged, both NPEs and loans overdue for less than 90 days increased compared to October 2018.

NPEs rose in November 2018 by € 10 million to €11.11 billion compared to €11.10 billion in October 2018, while loans overdue for less than 90 days rose to € 8.31 billion compared to €8.27 billion.

Total restructured loans amounted to €7.10 billion of which € 4.86 billion were still classified as non-performing loans.

Total cumulative provisions amounted to € 5.75 billion at the end of November 2018.